Government release Vision Document on Electronic Manufacturing
The Union Ministry of Electronics and Information Technology in association with the Indian Cellular and Electronic Association (ICEA) released a 5 year roadmap and Vision Document for the electronic sectors on 24 January 2022.
- The title of the document is “300 billion Sustainable Electronics Manufacturing and Exports by 2026”.
- It is the second volume of the two volume document released by the Ministry and the first was released in November 2021 titled “Increasing India's Electronics Exports and Share in GVCs (Global Value Chain)”.
Highlights of the Document:
- It has set a target to increase the production of electronics goods in India from current $75 billion to $300 billion by 2026.
- The export of electronic goods is expected to increase from projected US$15 billion in 2021-22 to US$120 billion by 2026.
- The key products which have been identified are mobile phones,IT hardware (laptops.tablets),industrial electronics,auto electronics, wearables and hearables,telecom equipment ,consumer electronics(TV and audio) ,LED lighting,strategic electronics . Focus is on mobile manufacturing which is expected to cross $100 billion from the current $30 billion by 2026.It is expected to contribute nearly 40 percent in the targeted electronic sector manufacturing growth.
- The Government earlier announced a $10 billion Production Linked Incentive (PLI) scheme to attract investment in Semiconductor and Display Ecosystem.
- The government has committed nearly US$17 billion over the next 6 years across four PLI Schemes - Semiconductor and Design, Smartphones, IT Hardware and Components.
Union Minister of Electronics and Technology: Ashwini Vaishnav
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